KYC eased for account transfers: Self-declaration of address allowed
Current · Source: Reserve Bank of India · RBI/2012-13/399 · issued 29 Jan 2013 · ~2 min read
Quick answerBanks can now transfer accounts to a new branch without fresh address proof, accepting a self-declaration instead. Customers get six months to submit valid proof. Rent agreements are also now acceptable as address proof.
The rule, in the simplest words
When you move your bank account to a new branch, you don't need to show a new address proof right away – just sign a paper saying your new address (self-declaration).
You have six months after moving to give the bank a real proof of address, like a utility bill or a registered rent agreement.
A registered rent agreement (signed with the government) is now okay as address proof for your bank account.
If you change your address, you must tell your bank within two weeks. The bank will ask you to promise this when you open an account or update your info.
How it plays out — a real example
A KYC & compliance officer in Indore has a customer who got a job transfer from Mumbai. The customer wants to move her savings account to the Indore branch but hasn't yet gotten a utility bill in her name. The officer tells her she can just sign a self-declaration with her new Indore address, and she has six months to bring in a registered rent agreement or other proof. This makes the transfer smooth and keeps the customer happy.
What changed
Previously, banks required fresh address proof when transferring an account to another branch. Now, banks can transfer accounts based on a self-declaration of current address, with proof to be submitted within six months. Additionally, registered rent agreements are now accepted as valid address proof.
What it means for you
This reduces friction for customers relocating for jobs or other reasons, allowing them to continue banking without delays. Banks must update their KYC policies to accept self-declarations and rent agreements, and ensure customers are informed about the two-week notification requirement for address changes.
What you must do
Update your bank's KYC policy to allow account transfers based on a self-declaration of address, with proof required within six months.
Accept registered rent agreements as valid address proof for KYC purposes.
Inform customers that they must notify the bank of any address change within two weeks, and obtain an undertaking to this effect during account opening and periodic KYC updates.
Who it affects
Scheduled Commercial Banks (excluding RRBs), Local Area Banks, All India Financial Institutions, Customers with transferable jobs or those relocating
❓ Common questions
What documents are now acceptable as proof of address for account transfers?
In addition to existing documents, a registered rent agreement with the State Government or similar authority is now acceptable. Also, a self-declaration of address is sufficient initially, with proof to be submitted within six months.
How long do customers have to submit proof of address after a self-declaration?
Customers must submit valid proof of address within six months of the self-declaration made at the time of account transfer.
What is the customer's obligation regarding address changes?
Customers must inform the bank of any change in address within two weeks of such change. Banks should obtain an undertaking to this effect when opening new accounts or during periodic KYC updates.
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/399
DBOD.AML.BC. No. 78 /14.01.001/2012-13
January 29, 2013
The Chairmen / CEOs of all Scheduled Commercial Banks
(Excluding RRBs)/Local Area Banks / All India Financial Institutions
Dear Sir,
Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002
Please refer to our circular DBOD.AML.BC. No. 65/14.01.001/ 2012-13 dated December 10, 2012 on simplification of Know Your Customer (KYC) norms / Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under PMLA, 2002. With a view to further easing the KYC process for the general public, especially customers who migrate to a new place on account of new job, transfer, etc., it has been decided to effect the following modifications to the existing instructions.
2. Shifting of bank accounts to another centre – Proof of address: Banks were advised vide circular DBOD.AML.BC.No. 97/14.01.001/2011-12 dated April 27, 2012 , that KYC once done by one branch of the bank should be valid for transfer of the account within the bank as long as full KYC had been done for the concerned account. The customer should be allowed to transfer his account from one branch to another branch without restrictions.In order to comply with KYC requirements of correct address of the person, fresh address proof has to be obtained from him/her upon such transfer by the transferee branch. However, a large number of customers with transferable jobs or those who migrate for jobs are unable to produce a utility bill or other documents in their name as address proof immediately after relocating. In view of this, it has been decided that:
Banks may transfer existing accounts at the transferor branch to the transferee branch without insisting on fresh proof of address and on the basis of a self-declaration from the account holder about his/her current address, subject to submitting proof of address within a period of six months.
Banks may also accept rent agreement duly registered with State Government or similar registration authority indicating the address of the customer, in addition to other documents listed as proof of address in Annex I of our Master Circular on KYC/AML/CFT dated July 2, 2012.
3. Banks should intimate their customers that in the event of change in address due to relocation or any other reason, they should intimate the new address to the bank within two weeks of such a change. While opening new accounts and while periodically updating KYC data as required in terms of para 2.4 (g) of the Master Circular, an undertaking to this effect should be obtained. In all these cases customers will have to produce proof of address as mentioned at (a) and (b) above.
4. Banks may revise their KYC policy in the light of the above instructions and ensure strict adherence to the same.
Yours faithfully,
(Deepak Singhal)
Chief General Manager-in-Charge
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/399 · issued 29 Jan 2013. The plain-English explanation above is BankPulse’s own independent summary.
Inform customers that they must notify the bank of any address change within two weeks, and obtain an undertaking to this effect during account opening and periodic KYC updates.
📜 Compliance
Update your bank's KYC policy to allow account transfers based on a self-declaration of address, with proof required within six months.
Accept registered rent agreements as valid address proof for KYC purposes.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are a Compliance officer at a bank this circular applies to (Scheduled Commercial Banks (excluding RRBs), Local Area Banks, All India Financial Institutions, Customers with transferable jobs or those relocating), your first concrete step on “KYC eased for account transfers: Self-declaration of address allowed” is: “Update your bank's KYC policy to allow account transfers based on a self-declaration of address, with proof required within six months.” (RBI issued this 29 Jan 2013).
Circular: RBI/2012-13/399 -- KYC eased for account transfers: Self-declaration of address allowed
Issued: 29 Jan 2013
Action required: Update your bank's KYC policy to allow account transfers based on a self-declaration of address, with proof required within six months.
Action required: Accept registered rent agreements as valid address proof for KYC purposes.
Action required: Inform customers that they must notify the bank of any address change within two weeks, and obtain an undertaking to this effect during account opening and periodic KYC updates.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7835&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
Help us keep this accurate
Found an inaccuracy or have an improvement? Tell us. Every report is reviewed by our team before any change is made — nothing goes live unverified.
Public beta — plain-English informational summaries. Always verify against the official RBI source (circular number cited on every page) before making compliance, credit, treasury, audit, or operational decisions. · Join our WhatsApp channel ↗
BANKPULSE · FREE DAILY BRIEF
Get RBI updates for your role
Every important RBI update, decoded in plain English — for your career, exams & financial awareness.
We collect only your email, name and role, used solely to send your brief — never sold or shared. Withdraw anytime via the unsubscribe link in any email. Independent platform, not affiliated with the RBI. Information, not legal advice.
REPORT AN ERROR · BETA
Spotted an error? Earn 500 BankPulse Credits
Help us stay accurate. If your correction is verified true and approved by our founder, you earn 500 BankPulse Credits — redeemable when the platform monetises.
Reviewed by a human before any credit is awarded. We never change the site from crowd input without verification.
WANT A NEW FEATURE · BETA
What would make BankPulse more useful for you?
Tell us what to build next — a tool, a data view, a role page, anything. We read every suggestion.
Thank you — your ideas directly shape what we build.